Continental Controls - Outcome Of Board Meeting

Continental Controls Ltd has informed that the Board of Directors of the Company at its meeting held on March 14, 2008, inter alia, has transacted the following business:
1. Board has approved the Demerger of the Computer Software Division of the Company into Quest Softech (India) Pvt Ltd (in the process of being converted into public Ltd Company).
2. The Appointed date being April 01, 2008 for the Scheme of Demerger.
3. Every shareholder holding two shares in CCL will be allotted one share in Quest Softech (India) Pvt Ltd. The share capital of Quest Softech (India) Pvt Ltd will be listed on the Bombay Stock Exchange. One share for every two shares held in CCL will be cancelled and thus the paidup capital of CCL will be reduced by half.

Genus Power - Outcome Of Board Meeting

Genus Power Infrastructures Ltd has informed that the Board of Directors of the Company at its meeting held on March 15, 2008, inter alia, has considered and approved the scheme of arrangement for Demerger of the 6 Megawatt Power Unit of M/s. Genus Paper Products Ltd into the Company with effect from the appointed i.e. April 01, 2007 subject to the approval of shareholders, High Courts, Stock Exchanges and other Regulatory Authorities and compliance of other applicable regulations.The Company and M/s. Genus Paper Products Ltd both jointly had appointed M/s. S R Hegde & Co., Chartered Accountants to carry out the valuation exercise and to suggest entitlement ratio upon Demerger of 6 Megawatt Power Unit of M/s. Genus Paper Products Ltd with the Company. M/s. S R Hegde & Co., Chartered Accountants has submitted their report to the Board of Directors and recommended the entitlement ratio as under:The entitlement ratio for Issue of equity shares of Genus Power Infrastructures Ltd to the shareholders of Genus Paper Products Ltd as 1:60 i.e. 1 (One) equity share of face value of Rs 10/- each of M/s. Genus Power Infrastructures Ltd for every 60 (Sixty) equity shares of the face value of Rs 10/- each of Genus Paper Products Ltd.The Board of the Company and Genus Paper Products Ltd have accepted and approved the above entitlement ratio subject to the approval of shareholders, High Courts and compliance of other regulatory and applicable provisions etc.